A "rapid rebound" of slowing economic growth is also expected from July, according to András Balatoni.Continue reading
Most Hungarians (32 percent), would need a net monthly salary of 350,000–450,000 forints (EUR 870–1,120) to make a decent living, according to a Pulzus Kutató survey conducted for the news portal Napi.hu. However, the spectrum is quite wide, with some people saying they need even more money to live on in a month, and others saying they can live on less.
According to the survey, a fifth of respondents said that a net monthly salary of 450,000–550,000 forints (EUR 1,120–1,380) would be ideal. 16 percent of respondents went even higher, saying they need more than HUF 550,000 (EUR 1,380) net a month to cover today’s soaring costs, which include food and energy prices.
The data also showed that a quarter of respondents consider HUF 250,000–350,000 a month to be enough to live on. However, few respondents went below this level, with only three percent of respondents saying that less than 250,000 forints a month was enough.
In the light of the above data, it is worth noting that the average gross wage of full-time employees in Hungary was 510,500 forints (EUR 1,280) in October 2022, while the average net earnings were 352,000 forints (EUR 880).
Meanwhile, on the topic of salaries and money, financial awareness and how Hungarians spend their money should also be mentioned. There has been a noticeable change in spending habits since Covid-19, and in the current difficult economic climate people are thinking twice about what they buy and for how much.
The latest research by Provident Pénzügyi Zrt., based on a representative sample, has now revealed that the vast majority of respondents, 85 percent, take advantage of various bargains. Moreover, in contrast to American society, for example, 74 percent of those surveyed do not return products they have bought but not used, practically unopened, because they do not have the time or think they would not be taken back anyway.
With inflation and skyrocketing prices, many people have started to change their shopping habits, for example, by buying cheaper products and paying more attention to sales.
But awareness is still low among Hungarians, and Provident is trying to help. In its recently launched Conscious Shopping campaign, the bank has created a website where it helps people to shop consciously by answering five simple questions.
Featured photo via Pixabay